Would the following calculation be correct, it seems to work nicely with an incredibly low current if it is!

3.3v supply (Raspberry Pi), 4.82K resistor (at least that's the reading from my multimeter - max setting on a 5K pot), 3mm Red LED.

Voltage read accross the resistor is 1.600v.

So the current accross the resistor is:

V=IR, 1.6 = I x 4820, I = 1.6 / 4820 = 0.332 mA ?

And that is the total current through the whole circuit (because that doesn't change through a circuit) ?

Seems too low to be true when the normal quote is to run at 10mA. I know it's not full brightness but it seems more than bright enough.

Many Thanks